House Democrats Urge President to Permanently Replace FHFAs DeMarco

Posted To: MND NewsWireForty-five Democratic members of the House of Representatives have sent a letter to President Obama urging him to appoint a permanent director to head the Federal Housing Finance Agency (FHFA). Edward J. DeMarco has been acting director of the agency since James Lockhart resigned in August 2009. The Senate failed to bring the name of Joseph Smith, named by the President to replace Lockhart, to the floor for confirmation. The group signing the letter was led by Elijah Cummings (D-MD), Ranking Member of the House Committee on Oversight and Government Reform, and Committee Member John F. Tierney (D-MA). Cummings has tangled repeatedly with DeMarco over whether Fannie Mae and Freddie Mac (the GSEs) should participate in the Treasury Departments principal reduction program for distressed and underwater...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.http://www.mortgagenewsdaily.com/02072013_fhfa_ed_demarco.asp| Call Bonnie Kelly for all your real estate needs: 505-350-8672 @ uwad.com